Hollywood studios say actors rejected $1 BILLION offer before going on strike

The Alliance of Motion Picture and Television Producers (AMPTP) slammed SAG-AFTRA as "disingenuous" and explained that the union "continues to mischaracterize the negotiations." The AMPTP negotiates on behalf of major motion pictures and film companies such as Walt Disney Co., Warner Bros Discovery, and Netflix.

"The deal that SAG-AFTRA walked away from on July 12 is worth more than $1 billion in wage increases, pension and health contributions and residual increases and includes first-of-their-kind protections over its three-year term, including expressly with respect to AI," the AMPTP said in a statement, according to Reuters.

"For SAG-AFTRA to assert that we have not been responsive to the needs of its membership is disingenuous at best," the AMPTP added.

On Thursday, the SAG-AFTRA union, which represents more than 160,000 actors and production personnel, called for a strike after negotiators failed to reach an agreement with AMPTP-represented studios on a new three-year contract.

The actors union wants higher benefits and limited use of artificial intelligence. SAG-AFTRA asked for an 11 percent wage increase in order to counteract inflation, however; the studios counter offered with a 5 percent increase which resulted in the strike, Reuters reports.

"We moved on some things, but from day one they wouldn't meaningfully engage on the most critical issues," SAG-AFTRA said.

Hollywood actors joined members of the Writers Guild of America (WGA), who have been striking over contract negotiations since May 2, to picket in front of major motion pictures studios on Thursday.

California Democrat Representative Adam Schiff was also spotted picketing alongside Hollywood actors on Monday.